Millennials in the city: Do we still have job security?

The changing nature of the labour force has led to a generational shift in the value for job security. With the increased need for more skilled labour, AI, and turnovers, Millennials are less likely to be found staying in the same workplace as past generations.

The motivations and meaning of work has changed. There was more societal pressure in past generations to follow the tradition of finishing school, finding a good paying secure job, getting married, having kids etc. Now in this competitive environment, it becomes much more difficult to have job security as more jobs become contract work that demand a new set of skills and qualifications.

Furthermore, in this new industrial age of rapid social, technological and political change, not only is it difficult to find full time paying jobs, a research study found that job hopping is becoming more common as many Millennials value the ability to make a meaningful social change through their careers.

The expensive cost of living is reducing the need to save up money to buy a house. As a Millennial, buying a house in this economy feels like a dream that will never become a reality. The meaning of work is much more than just getting a decent paycheck, sustaining an affordable lifestyle and saving up to buy a house or car. The meaning of work is more than just following through with traditions. It’s about finding your purpose in the society.

For most Millennials, it’s about knowing that the work you are doing on a daily basis is making a great impact in the community, and feeling proud that you are contributing to something very important and meaningful. The rapid changes in society, influence more of us to define the meaning of work differently, and increase the value to learn and grow.

-Petek